What changed things for you?

[pabeamrc]

Hi everyone. Steve here. I started a business in hobbies a few years ago while keeping my FT job in IT. About a year ago, I left IT after having enough of the corporate life. After I left, things went well for a short while but started rolling downhill. Now, I'm really struggling. I've thought a lot about my business and have been trying to pin point what is going wrong. Honestly, I feel like working on my business has become a bit of a grudge. I really don't have a stronger purpose other than making money and I think that's sad. The condition of my business equipment is degraded so that I find it demotivating. Has anyone felt like this about their own business? Were you able to turn things around? If you were, and you survived, what change did you make first if you remember? tons of thanks for any help!

[Jtrigsby]

Hey Steve,

What you're feeling is not uncommon at all. When we start up a new enterprise it's easy to remain juiced by the newness of it, especially when it's in a hobby field, something we've chosen as a fun activity. And when you're only working it on the side, it can even be its own encouragement to get through the day at your "real job".

But something changes when your livelihood (and meals, rent, etc) are tied to the profits of your business. All of a sudden there's no safety net, it's up to you to make it or not, and the stress that comes with that realization often causes small business owners to fold up their tent and go back to a job.

I'd suggest two things for you. First, find a motivation beyond just making money. We all need to make money to pay bills, etc... why do YOU want to make money? To travel? Pay-off a mortgage? Retire early? Keep asking yourself why until you find the underlying dream. Then make THAT your motivation! Is what I'm doing today moving me toward my dream?

Second, I'd strongly suggest you find another small business owner you can sit down and talk to. They don't have to have all the answers, but they should be willing to listen. Just having someone who can hear your challenges and be an encouragement will make a world of difference!

Hope those help. I'm sure others here will have good advice as well. Keep up up to date on how things are going and dream big!

Thom

[Harold Mansfield]

I know exactly what you are going through. That stage where your business turns into a job.

I'm coming out of that stage now. For a while I was bored and things seemed stagnant.

For me, it was getting back to what I'd planned from the beginning. Going back to all of the things I said I wanted to do, but hadn't done yet. Marketing ideas that I had, goals I'd set, and more importantly growth. I'd always planned on using Web design to pay the bills in the short term, but in the long term as a stepping stone to other things and creating my own products.

I had to refurbish my business so that I felt good about it again, and it's the goals of expansion that keep a fire lit under my butt.

You have to get your equiptment back up to par. It's hard to get excited about your business when your stuff is falling apart. For me, all it takes is clean office and a piece of new equiptment, and a new stack of business cards to give me the warm and fuzzies again.

[Freelancier]

I've been doing this for over 20 years. Some days it's a job, some days it's fun. Often it's about making sure that invoices are being sent out each week. Regardless, part of running your own business is to put the negative feelings aside and focus on doing the job that needs to be done so that the business can continue to exist (which is half the battle with most companies).

[Harold Mansfield]

Sometimes you just need to remind yourself that you are doing what you wanted. We all get bored, but there are times when I have to just sit back and realize that I'm doing what I wanted, and I'm doing it the way I actually envisioned it and it's actually working. Now how can I make it better?

[Fulcrum]

I've got a some questions for the OP.

1) If you don't mind sharing, what business are you in exactly and how many hours a day/week do you log directly related to the product you put out?
2) What do you think changed (not what went wrong)?
3) What is one aspect of your business that you do well and can focus on that can keep the bills paid?

Don't look at degraded/obsolete equipment as an anchor on your company. Old, worn out equipment can improve your skill in what you do as it forces you to pay extremely close attention to the work you put out. There does come a point when it needs to be replaced, but I'm thinking that your equipment is not at that point (big assumption here on my part).

[Harold Mansfield]

Every now and then an old friend or two will remind me that even when things are slow, at the end of the day I'm doing something that I set out to do, and that most people dream about...working for myself, working from a home office in sweats, and shorts, and taking days off whenever I feel like it and lunches as long as I want.

Sure I want more and will get there, but at the end of the day, even on my worst days, waking up, fixing a cup of coffee, and walking into my office to go to work, is far cooler than getting dressed, driving across town and punching a time clock for a paycheck.

Remember why you went into business for yourself, celebrate what you've accomplished thus far, clean things up and find exitement in moving to the next level.

[pabeamrc]

Thank you all for your encouragement and information. From this I came up with a greater goal and we're taking steps to rebrand some of our old marketing materials.

[Osprey]

Hi everyone. Steve here. I started a business in hobbies a few years ago while keeping my FT job in IT. About a year ago, I left IT after having enough of the corporate life. After I left, things went well for a short while but started rolling downhill. Now, I'm really struggling. I've thought a lot about my business and have been trying to pin point what is going wrong. Honestly, I feel like working on my business has become a bit of a grudge. I really don't have a stronger purpose other than making money and I think that's sad. The condition of my business equipment is degraded so that I find it demotivating. Has anyone felt like this about their own business? Were you able to turn things around? If you were, and you survived, what change did you make first if you remember? tons of thanks for any help!

Hey Steve,

Stay strong! You are in one of the fastest growing businesses in the nation. You are part of the Computer Revolution and you can make this happen. In our industry (IT) your reputation is built over time and must be constantly nurtured.

I'm not sure what part of IT you are in, but there are some strong website that can help. mspmentor dot com is one, labtech is another. They are both there to help you build your fledgling IT business.

Good luck! :)

[huggytree]

the exciting new business high lasted for me about 5 years....my business has never seen a down year...I always grow 10-30% per year

I have gotten a bit board this last year though....I look at it all as a game....and I want to win...I do what it takes to win

the only struggle I went through was the first 1/2 year I tried to be the low price guy....as soon as I decided to go after the upper 1/2 of the market and be a highend/quality minded business ive been successful.....ive changed my own personal life style to match my customer base...this has given me a better understanding of what they look for....I look for quality and don't worry about price when I make purchases now(not 100%, but close)

you have to define who your customer is....pick a niche market....high end customers are where the $ is for a small business

my whole reason for being in business is the $$....I don't need any higher purpose....I want a better life for me and my family

running a business shouldn't be anything other than exciting....at least not for a few years......maybe being in business isn't for you?

I charge enough to keep my equipment top of the line and perfect....I get a brand new tools whenever they break down, I buy a brand new van every 4-5 years to keep up my image.....I would never skimp on equipment.....every tool I buy is the most powerful and the best available.....

I think you need to define your exact problems for us to really help you....your original post is too vague to give exact help

good luck!